PhillyDeals: PhillyDeals: Despite inauguration, investors skeptical

President Obama's triumphal inauguration didn't change the hearts of skeptical investors in the troubled financial system. Shares of Wells Fargo & Co., the newly dominant bank in the Philadelphia area, fell 23.82 percent, to $14.23, after analyst Paul J. Miller Jr. at Friedman, Billings, Ramsey & Co. Inc. said Wells "will have to cut its dividend" and raise more capital after absorbing Wachovia Corp.

Copyright PHILY - Philly.com
Contact Us